BBVA Compass Pays $11.5M To Quit Overdraft Fee MDL

Law360, New York (July 3, 2012, 10:00 PM EDT) -- BBVA Compass Bancshares Inc. on Tuesday agreed to pay $11.5 million to exit multidistrict litigation in Florida, becoming the latest bank to settle the suit accusing a slew of financial giants of tampering with customers’ debit card transactions to collect higher overdraft fees.

Compass did not admit liability in the settlement, which came on the heels of U.S. Bank NA's agreement to pay $55 million to skip out of the suit Monday and a week after PNC Bank NA agreed to settle allegations against it for...
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